Global storage software market grew to $2.9 bln in Q4 2007

The worldwide storage software market experienced its 17th consecutive quarter of YTY growth in the Q4 2007 with revenues of $2.9 bln, an 11.2% increase over Q4 2006, according to IDC. For the full year 2007, storage software revenues totaled $10.9 bln, growing 10.4% year over year. The archiving market grew 18.6% year over year, driven by e-discovery, regulatory compliance, and overall storage optimization needs. Data protection and recovery had strong year-over-year growth of 11.5%. This growth was perpetuated by four out of the top six vendors experiencing double-digit growth over Q4 2006.